When we are talking Trust, we are referring to the different types including Discretionary, Family Trust, Testamentary, Decreased Estate Trust, etc.
Accounting Services we can provide, but are not limited to, are as follows:
- Recommendations on software most suited for maintaining your records in relation to the nature of your transactions.
- Guidance on ways to register your periodical transactions for GST purposes.
- Offer guidance on the correct procedures, setting up and layout of tax invoices and the elements to be included on any bill.
- Assist you with the setting up of payroll (wages) for employees and how to apportion the correct amount of compulsory superannuation guarantee on their applicable earnings only.
- How to add assets such as motor vehicles for your business and what amounts to record and factor in for business and private usage , if it applies.
- BankLink Software (at no additional charge) securely linked to our system, recording your transactions for our system to process for which will free up time for your business.
- Set up periodical financial reports for any entity’s financial position including Balance Sheets, financial performance such as Profit and Loss and Asset Register
Taxation Services that we provide include but definitely not restricted to the following are:
- Assist you in becoming familiar with those basic rules and laws that apply to your entity, alternatively known as Trust Deeds, that regulate your entity.
- Assist in obtaining an Australian Business Number (ABN), Goods and Service Tax (GST) and PAYG regime, where applicable
- Advice on any statutory obligations for annual lodgement to the Office of The Australian Taxation Department and the Department of Fair Trading.
- Process all the allowable deductions applicable to your work /business and advice on claiming for all eligible expenses you incurred.
- Advise you on processes for selling or disposing of business assets with attention to the Capital Gains Tax implications and Small Business Concessions, where applicable.
- Attend the lodgement of Business Activity Statements including GST reporting (cash/accrual basis), PAYG withholding and Instalment.
- Advice on Beneficiaries entitlements and relevant distributions with respect to the lastest “Streaming:rules
- Prepare and lodge Trust Tax Return including Business Schedules, Investment and/or Rental Property Schedules and Beneficiaries Statements.
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